The Folk Theorem for all Games with Almost Perfect Monitoring
نویسندگان
چکیده
We study repeated games with private monitoring. We prove the folk theorem with discounting for all games assuming that the monitoring is almost perfect and the payoffs satisfy the full-dimensionality condition. We assume no cheap-talk communication between players, no public randomization, and we allow for minmax payoffs in mixed strategies.
منابع مشابه
The Folk Theorem for Games with Private Almost-Perfect Monitoring∗
We prove the folk theorem for discounted repeated games under private, almost-perfect monitoring. Our result covers all finite, n-player games satisfying the usual full-dimensionality condition. Mixed strategies are allowed in determining the individually rational payoffs. We assume no cheap-talk communication between players and no public randomization device.
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We prove the perfect-monitoring folk theorem continues to hold when attention is restricted to strategies with bounded recall and the equilibrium is essentially required to be strict. As a consequence, the perfect monitoring folk theorem is shown to be behaviorally robust under almost-perfect almost-public monitoring. That is, the same specification of behavior continues to be an equilibrium wh...
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